The Facebook filter: Instagram being acquired by Facebook

Gus G. Sentementes

Big news today in the world of social media: Facebook plans to acquire Instagram for a whopping $1 billion in cash and shares. CEO Mark Zuckerbergbroke the news himself, and wrote that Instagram will stay alive as an independent product.

This is incredible news for Instagram, one of the most popular iPhone apps out there, which only just recently introduced an Android version.